Two very interesting articles not to miss ….
Keeping the 20-somethings: Jonathan O’Connell asks provocative questions about whether DC city planners can find ways to keep the droves of 20-somethings who have flocked to DC in recent years. What will it take? He says parks, playgrounds, family-friendly restaurants, better libraries…
Walkability: The Brookings Institution received a lot of attention this week for an intriguing report connecting walkability to home values in DC neighborhoods.
Check out this video for the latest stats on the DC housing market. A few highlights:
– Strong first quarter nationally and in DC on various economic indicators
– Inventory substantially lower this year compared to last
– Prices up from last year
It’s a good time to be active in the real estate market. For buyers – interest rates and prices are relatively low. For sellers – low inventory appears to be boosting prices. Let me know if I can help you buy or sell!
WaPo did a great piece last Saturday on buyers’ experiences of the DC market. Buyers find there are few good options and the good options are very competitive.
To get a property you have to be aggressive, strategic, and quick. You might ask then, will I pay too much?
The mismatch between supply and demand does seem to be resulting in an increase in prices. Urban Turf reported today that area home prices in April were 11.2% higher than one year ago.
With prices going up, you probably will pay more than buyers did last year. However, if the upward trend continues, you’ll pay less than buyers will in the future. Bottom line, with interest rates still so low, I think it’s still a great time to buy.
For sellers, times are good: lots of buyers, low inventory, and property values on the rise. Yet, don’t forget – it’s pretty and well-priced properties that sell.
If you are looking to buy or sell, I’d love to assist you. Contact me today for an initial consultation!